Oportun Financial (OPRT) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-39050
Entity Registrant Name	OPORTUN FINANCIAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3361983
Entity Address, Address Line One	2 Circle Star Way
Entity Address, City or Town	San Carlos,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94070
City Area Code	650
Local Phone Number	810-8823
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	OPRT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,722,721
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001538716
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 72,871	$ 91,187
Restricted cash	163,765	114,829
Loans receivable at fair value	2,714,410	2,962,352
Credit cards receivable held for sale	55,720	0
Capitalized software and other intangibles, net	99,688	114,735
Right of use assets - operating	9,947	21,105
Other assets	133,960	107,680
Total assets	3,250,361	3,411,888
Liabilities
Secured financing	156,436	289,951
Asset-backed notes at fair value	1,583,088	1,780,005
Asset-backed borrowings at amortized cost	836,893	581,468
Acquisition and corporate financing	230,382	258,746
Lease liabilities	21,734	28,376
Other liabilities	67,712	68,938
Total liabilities	2,896,245	3,007,484
Stockholders' equity
Common stock, $0.0001 par value - 1,000,000,000 shares authorized at June 30, 2024 and December 31, 2023; 35,994,744 shares issued and 35,722,721 shares outstanding at June 30, 2024; 34,741,076 shares issued and 34,469,053 shares outstanding at December 31, 2023	7	7
Common stock, additional paid-in capital	591,731	584,555
Accumulated deficit	(231,313)	(173,849)
Treasury stock at cost, 272,023 shares at June 30, 2024 and December 31, 2023	(6,309)	(6,309)
Total stockholders’ equity	354,116	404,404
Total liabilities and stockholders' equity	$ 3,250,361	$ 3,411,888

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Stockholders' Equity, Number of Shares, Par Value and Other Disclosure [Abstract]
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	35,994,744	34,741,076
Common stock, shares outstanding (in shares)	35,722,721	34,469,053
Treasury stock, shares (in shares)	272,023	272,023

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Interest income	$ 231,373	$ 240,463	$ 461,963	$ 478,082
Non-interest income	19,023	26,100	38,915	47,993
Total revenue	250,396	266,563	500,878	526,075
Less:
Interest expense	54,244	41,448	108,709	80,445
Net decrease in fair value	(136,119)	(106,490)	(252,969)	(322,200)
Net revenue	60,033	118,625	139,200	123,430
Operating expenses:
Technology and facilities	40,625	55,116	87,730	111,990
Sales and marketing	16,258	19,195	32,261	38,377
Personnel	21,908	30,762	46,424	68,080
Outsourcing and professional fees	8,375	9,900	18,616	23,702
General, administrative and other	22,016	21,123	33,793	40,285
Total operating expenses	109,182	136,096	218,824	282,434
Income (loss) before taxes	(49,149)	(17,471)	(79,624)	(159,004)
Income tax benefit	(18,124)	(2,572)	(22,160)	(42,015)
Net loss	(31,025)	(14,899)	(57,464)	(116,989)
Net income (loss) attributable to common stockholders	(31,025)	(14,899)	(57,464)	(116,989)
Net income (loss) attributable to common stockholders	$ (31,025)	$ (14,899)	$ (57,464)	$ (116,989)
Earnings (loss) per share:
Basic (in USD per share)	$ (0.78)	$ (0.41)	$ (1.46)	$ (3.31)
Diluted (in USD per share)	$ (0.78)	$ (0.41)	$ (1.46)	$ (3.31)
Weighted average common shares outstanding:
Basic (in shares)	39,816,996	36,691,291	39,358,936	35,342,663
Diluted (in shares)	39,816,996	36,691,291	39,358,936	35,342,663

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Warrants	Additional Paid-in Capital, Warrants	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2022		0		33,354,607
Beginning balance at Dec. 31, 2022	$ 547,599		$ 0	$ 7	$ 547,799	$ 6,102	$ (6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	5,329				5,329
Vesting of restricted stock units, net of shares withheld (in shares)				529,739
Vesting of restricted stock units, net of shares withheld	(1,364)				(1,364)
Issuance of warrants to purchase common stock in connection with debt financing (in shares)		2,096,727
Issuance of warrants to purchase common stock in connection with debt financing	6,672		6,672
Net loss	(102,090)					(102,090)
Ending balance (in shares) at Mar. 31, 2023		2,096,727		33,884,346
Ending balance at Mar. 31, 2023	456,146		6,672	$ 7	551,764	(95,988)	(6,309)
Beginning balance (in shares) at Dec. 31, 2022		0		33,354,607
Beginning balance at Dec. 31, 2022	547,599		0	$ 7	547,799	6,102	(6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(116,989)
Ending balance (in shares) at Jun. 30, 2023		4,193,453		34,027,343
Ending balance at Jun. 30, 2023	458,398		19,431	$ 7	556,156	(110,887)	(6,309)
Beginning balance (in shares) at Mar. 31, 2023		2,096,727		33,884,346
Beginning balance at Mar. 31, 2023	456,146		6,672	$ 7	551,764	(95,988)	(6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options, net of shares withheld (in shares)				26,458
Issuance of common stock upon exercise of stock options, net of shares withheld	(95)				(95)
Stock-based compensation expense	4,754				4,754
Vesting of restricted stock units, net of shares withheld (in shares)				116,539
Vesting of restricted stock units, net of shares withheld	(267)				(267)
Issuance of warrants to purchase common stock in connection with debt financing (in shares)		2,096,726
Issuance of warrants to purchase common stock in connection with debt financing	12,759		12,759
Net loss	(14,899)					(14,899)
Ending balance (in shares) at Jun. 30, 2023		4,193,453		34,027,343
Ending balance at Jun. 30, 2023	458,398		19,431	$ 7	556,156	(110,887)	(6,309)
Beginning balance (in shares) at Dec. 31, 2023		4,193,453		34,469,053
Beginning balance at Dec. 31, 2023	404,404		19,431	$ 7	565,124	(173,849)	(6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	4,239				4,239
Vesting of restricted stock units, net of shares withheld (in shares)				1,120,201
Vesting of restricted stock units, net of shares withheld	(232)				(232)
Net loss	(26,439)					(26,439)
Ending balance (in shares) at Mar. 31, 2024		4,193,453		35,589,254
Ending balance at Mar. 31, 2024	381,972		19,431	$ 7	569,131	(200,288)	(6,309)
Beginning balance (in shares) at Dec. 31, 2023		4,193,453		34,469,053
Beginning balance at Dec. 31, 2023	404,404		19,431	$ 7	565,124	(173,849)	(6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(57,464)
Ending balance (in shares) at Jun. 30, 2024		4,193,453		35,722,721
Ending balance at Jun. 30, 2024	354,116		19,431	$ 7	572,300	(231,313)	(6,309)
Beginning balance (in shares) at Mar. 31, 2024		4,193,453		35,589,254
Beginning balance at Mar. 31, 2024	381,972		19,431	$ 7	569,131	(200,288)	(6,309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	3,169				3,169
Vesting of restricted stock units, net of shares withheld (in shares)				133,467
Net loss	(31,025)					(31,025)
Ending balance (in shares) at Jun. 30, 2024		4,193,453		35,722,721
Ending balance at Jun. 30, 2024	$ 354,116		$ 19,431	$ 7	$ 572,300	$ (231,313)	$ (6,309)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (57,464)	$ (116,989)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	26,204	27,158
Fair value adjustment, net	252,969	322,200
Origination fees for loans receivable at fair value, net	(10,140)	(16,981)
Gain on loan sales	(3,608)	(3,693)
Stock-based compensation expense	6,924	9,347
Other, net	(14,191)	(29,910)
Originations of loans sold and held for sale	(50,664)	(25,678)
Proceeds from sale of loans	53,816	29,096
Changes in operating assets and liabilities	(10,237)	(15,193)
Net cash provided by operating activities	193,609	179,357
Cash flows from investing activities
Originations and purchases of loans held for investment	(679,738)	(780,912)
Proceeds from loan sales originated as held for investment	2,240	1,653
Repayments of loan principal	659,232	694,963
Capitalization of system development costs	(8,351)	(18,731)
Other, net	(361)	(994)
Net cash used in investing activities	(26,978)	(104,021)
Cash flows from financing activities
Borrowings under secured financing	89,940	171,300
Repayments of secured financing	(224,193)	(3,140)
Repayments of asset-backed notes at fair value	(225,950)	(330,406)
Borrowings under asset-backed borrowings at amortized cost	397,907	25,544
Repayments of asset-backed borrowings at amortized cost	(136,785)	0
Borrowings under acquisition and corporate financing	0	73,355
Repayments of acquisition and corporate financing	(34,271)	(10,195)
Payments of deferred financing costs	(2,427)	(1,550)
Net payments related to stock-based activities	(232)	(1,726)
Net cash used in financing activities	(136,011)	(76,818)
Net increase (decrease) in cash and cash equivalents and restricted cash	30,620	(1,482)
Cash and cash equivalents and restricted cash, beginning of period	206,016	203,817
Cash and cash equivalents and restricted cash, end of period	236,636	202,335
Supplemental disclosure of cash flow information
Cash and cash equivalents	72,871	73,371
Restricted cash	163,765	128,964
Total cash and cash equivalents and restricted cash	236,636	202,335
Cash paid for income taxes, net of refunds	826	1,171
Cash paid for interest	106,940	77,453
Cash paid for amounts included in the measurement of operating lease liabilities	6,463	7,430
Supplemental disclosures of non-cash investing and financing activities
Right of use assets obtained in exchange for operating lease obligations	(6,511)
Right of use assets obtained in exchange for operating lease obligations		1,979
Non-cash investments in capitalized assets	801	(507)
Non-cash financing activities	$ 16,603	$ 19,431

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business Oportun Financial Corporation (together with its subsidiaries unless the context indicates otherwise, "Oportun" or the "Company") is a mission driven fintech that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, the Company empowers members with the confidence to build a better financial future. Oportun takes a holistic approach to serving its members and views as its purpose to responsibly meet their current capital needs, help grow its members' financial profiles, increase their financial awareness and put them on a path to a financially healthy life. Oportun offers access to a comprehensive suite of products powered by A.I., offered either directly or through partners, including unsecured and secured lending, and savings. The Company is headquartered in San Carlos, California. The Company has been certified by the United States Department of the Treasury as a Community Development Financial Institution ("CDFI") since 2009. Segments Segments are defined as components of an enterprise for which discrete financial information is available and evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer and the Company's Chief Financial Officer are collectively considered to be the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s operations constitute a single reportable segment.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation ‑ The Company meets the SEC's definition of a “Smaller Reporting Company”, and therefore qualifies for the SEC's reduced disclosure requirements for smaller reporting companies. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These statements are unaudited and reflect all normal, recurring adjustments that are, in management's opinion, necessary for the fair presentation of results. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior-period financial information has been reclassified to conform to current period presentation. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Annual Report"), filed with the Securities and Exchange Commission ("SEC") on March 15, 2024. Use of Estimates ‑ The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates and assumptions. Accounting Policies - There have been no changes to the Company's significant accounting policies from those described in Part II, Item 8 - Financial Statements and Supplementary Data in the Annual Report, except for the new accounting pronouncements subsequently adopted as noted below. Recently Adopted Accounting Standards None. Accounting Standards to be Adopted Income Taxes - In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU requires entities to disclose in their rate reconciliation table additional categories or information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold and requires annual disclosure of income taxes paid to be disaggregated by federal, state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company has evaluated the effect of the new guidance and determined the ASU expands tax disclosures but it will not have a material impact on the consolidated financial statements. Segment Reporting - In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The ASU enhances disclosures about significant segment expenses, provides new segment disclosure requirements for entities with a single reportable segment, enhances interim disclosure requirements, clarifies circumstances in which an entity is permitted to disclose multiple segment measures of profit or loss and other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company has evaluated the effect of the new guidance and determined that the expanded segment disclosures will not have a material impact on the consolidated financial statements.

Earnings (Loss) per Share

Earnings (Loss) per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per Share Basic and diluted earnings (loss) per share are calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Net loss $ (31,025) $ (14,899) $ (57,464) $ (116,989) Net income (loss) attributable to common stockholders $ (31,025) $ (14,899) $ (57,464) $ (116,989) Basic weighted-average common shares outstanding 39,816,996 36,691,291 39,358,936 35,342,663 Weighted average effect of dilutive securities: Diluted weighted-average common shares outstanding 39,816,996 36,691,291 39,358,936 35,342,663 Earnings (loss) per share: Basic $ (0.78) $ (0.41) $ (1.46) $ (3.31) Diluted $ (0.78) $ (0.41) $ (1.46) $ (3.31) The following common share equivalent securities have been excluded from the calculation of diluted weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options 2,347,491 3,062,442 2,445,681 3,162,156 Restricted stock units 4,058,597 3,730,803 3,842,349 3,842,100 Total anti-dilutive common share equivalents 6,406,088 6,793,245 6,288,030 7,004,256

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Variable interest entities ("VIEs") are legal entities that either have an insufficient amount of equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the holders of equity investment at risk lack the ability to direct the entity's activities that most significantly impact economic performance through voting or similar rights, or do not have the obligation to absorb the expected losses or the right to receive expected residual returns of the entity. For all VIEs in which the Company is involved, it assesses whether it is the primary beneficiary of the VIE on an ongoing basis. In circumstances where the Company has both the power to direct the activities that most significantly impact the VIEs performance and the obligation to absorb losses or the right to receive the benefits of the VIE that could be significant, it would conclude that it is the primary beneficiary of the VIE, and it consolidates the VIE. In situations where the Company is not deemed to be the primary beneficiary of the VIE, it does not consolidate the VIE and only recognizes its interests in the VIE. In addition, on June 16, 2023 and August 3, 2023, the Company entered into forward flow whole loan sale agreements that are considered secured borrowings and are not considered VIEs. See Note 8, Borrowings for additional information on the secured borrowing under the caption of asset-backed borrowings at amortized cost. Consolidated VIEs As part of the Company’s overall funding strategy, the Company transfers a pool of designated loans receivable to wholly owned special-purpose subsidiaries to collateralize certain asset-backed financing transactions. For these VIEs where the Company has determined that it is the primary beneficiary because it has the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb the losses or the right to receive benefits from the VIEs that could potentially be significant to the VIEs, the VIEs assets and related liabilities are consolidated with the results of the Company. Such power arises from the Company’s contractual right to service the loans receivable securing the VIEs’ asset-backed debt obligations. The Company has an obligation to absorb losses or the right to receive benefits that are potentially significant to the VIEs because it retains the residual interest of each asset-backed financing transaction in the form of an asset-backed certificate. Accordingly, the Company includes the VIEs’ assets, including the assets securing the financing transactions, and related liabilities in its condensed consolidated financial statements. Each consolidated VIE issues a series of asset-backed securities that are supported by the cash flows arising from the loans receivable securing such debt. Cash inflows arising from such loans receivable are distributed monthly to the transaction’s lenders and related service providers in accordance with the transaction’s contractual priority of payments. The creditors of the VIEs above have no recourse to the general credit of the Company as the primary beneficiary of the VIEs and the liabilities of the VIEs can only be settled by the respective VIE’s assets. The Company retains the most subordinated economic interest in each financing transaction through its ownership of the respective residual interest in each VIE. The Company has no obligation to repurchase loans receivable that initially satisfied the financing transaction’s eligibility criteria but subsequently became delinquent or a defaulted loans receivable. The following table represents the assets and liabilities of consolidated VIEs recorded on the Company’s Condensed Consolidated Balance Sheets (Unaudited): June 30, December 31, (in thousands) 2024 2023 Consolidated VIE assets Restricted cash $ 133,945 $ 91,466 Loans receivable at fair value 2,185,915 2,539,186 Total VIE assets 2,319,860 2,630,652 Consolidated VIE liabilities Secured financing (1) 156,696 290,949 Asset-backed notes at fair value 1,583,088 1,780,005 Asset-backed borrowings at amortized cost 345,172 195,057 Acquisition financing (1) 40,066 57,237 Total VIE liabilities $ 2,125,022 $ 2,323,248 (1) Amounts exclude deferred financing costs. See Note 8, Borrowings for additional information.

Loans Held for Sale and Loans S

Loans Held for Sale and Loans Sold	6 Months Ended
	Jun. 30, 2024
Transfers and Servicing [Abstract]
Loans Held for Sale and Loans Sold	Loans Held for Sale and Loans Sold Other Loan Sales - The Company enters into agreements to sell certain populations of its personal loans and credit card receivables from time to time, including non-performing loans and credit card receivables originated as held for investment. The sold loans were accounted for under the fair value option. The loan sales qualified for sale accounting treatment and the Company derecognized these loans from its Condensed Consolidated Balance Sheets (Unaudited) at the end of the quarter in which the loans were sold. Whole Loan Sale Program ‑ The Company enters into whole loan sale agreements with third parties in which we agree to sell newly originated unsecured personal loans and secured personal loans. The originations of loans sold and held for sale during the three months ended June 30, 2024 was $28.4 million and the Company recorded a gain on sale of $2.1 million and servicing revenue of $1.6 million. The originations of loans sold and held for sale during the three months ended June 30, 2023 was $15.6 million. The gain on sale recorded during the three months ended June 30, 2023 was $2.3 million. Servicing revenue during the same time period was $2.5 million. The originations of loans sold and held for sale during the six months ended June 30, 2024 was $50.7 million and the Company recorded a gain on sale of $3.6 million and servicing revenue of $3.2 million. The originations of loans sold and held for sale during the six months ended June 30, 2023 was $25.7 million. The gain on sale recorded during the six months ended June 30, 2023 was $3.7 million. Servicing revenue during the same time period was $5.6 million. Oportun® Visa® Credit Card - On June 21, 2024, the Company entered into a nonbinding letter of intent with a third-party to sell the credit card receivable portfolio originated under the Company's credit card program. Following the execution of the nonbinding letter of intent, the portfolio is considered to be held for sale and is presented within Credit cards receivable held for sale on the Condensed Consolidated Balance Sheet (Unaudited). The Company has elected the fair value option for the credit card portfolio and, as a result, we recorded a net decrease in fair value of $36.2 million associated with the terms contained within the nonbinding letter of intent. The Company has chosen to sell the credit card receivables portfolio because it believes it can achieve higher returns on its capital from allocating it to the Company's other products.

Capitalized Software and Other

Capitalized Software and Other Intangibles	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized Software and Other Intangibles	Capitalized Software and Other Intangibles Capitalized software, net consists of the following: June 30, December 31, (in thousands) 2024 2023 Capitalized software, net: System development costs $ 167,726 $ 158,577 Acquired developed technology 48,500 48,500 Less: Accumulated amortization (140,172) (119,810) Total capitalized software, net $ 76,054 $ 87,267 Capitalized software, net Amortization of system development costs and acquired developed technology for the three months ended June 30, 2024 and 2023 was $10.1 million and $10.6 million, respectively. System development costs capitalized in the three months ended June 30, 2024 and 2023 were $5.4 million and $7.7 million, respectively. Amortization of system development costs and acquired developed technology for the six months ended June 30, 2024 and 2023 was $20.4 million and $20.7 million, respectively. System development costs capitalized in the six months ended June 30, 2024 and 2023 were $9.2 million and $18.3 million, respectively. Intangible Assets The gross carrying amount and accumulated amortization, in total and by major intangible asset class are as follows: June 30, December 31, (in thousands) 2024 2023 Intangible assets: Member relationships $ 34,500 $ 34,500 Trademarks 5,626 5,626 Other 3,000 3,000 Less: Accumulated amortization (19,492) (15,658) Total intangible assets, net $ 23,634 $ 27,468 Amortization of intangible assets for the three months ended June 30, 2024 and 2023 was $1.9 million and $1.9 million, respectively. Amortization of intangible assets for the six months ended June 30, 2024 and 2023 was $3.8 million and $3.5 million, respectively. On March 8, 2023, the Company revealed its rebranding of Oportun and Digit as a single brand. Therefore, the Company wrote off Expected future amortization expense for intangible assets as of June 30, 2024 is as follows: (in thousands) Fiscal Years 2024 (remaining six months) $ 3,704 2025 4,929 2026 4,929 2027 4,929 2028 4,780 2029 — Thereafter — Total $ 23,271

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: June 30, December 31, (in thousands) 2024 2023 Fixed assets Total fixed assets $ 42,683 $ 48,944 Less: Accumulated depreciation (37,763) (41,953) Total fixed assets, net $ 4,920 $ 6,991 Other Assets Prepaid expenses $ 13,716 $ 15,758 Deferred tax assets, net 71,615 48,123 Current tax assets 4,315 4,731 Receivable from banking partner 3,837 4,050 Derivative asset 11,432 9,307 Other 24,125 18,720 Total other assets $ 133,960 $ 107,680 Fixed Assets Depreciation and amortization expense related to fixed assets for the three months ended June 30, 2024 and 2023 was $1.0 million and $0.9 million, respectively, and for the six months ended June 30, 2024 and 2023 was $2.0 million, and $2.2 million, respectively.

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowings Secured Financing The following table presents information regarding the Company's Secured Financing facilities: June 30, 2024 December 31, 2023 Variable Interest Entity Facility Amount Maturity Date Interest Rate Balance Balance (in thousands) Oportun CCW Trust (1) $ 80,000 December 1, 2024 Adjusted SOFR + 3.41% $ 57,978 $ 68,409 Oportun PLW Trust 600,000 September 1, 2024 Adjusted SOFR + 2.17% 98,458 221,542 Total secured financing $ 680,000 $ 156,436 $ 289,951 (1) As of December 31, 2023, the facility amount of the Secured Financing - CCW facility (Oportun CCW Trust) was $100.0 million. On January 31, 2024, the Company entered into an amendment to the Credit Card Warehouse facility to reduce the commitment amount from $100.0 million to $80.0 million and adjusted the minimum payment rate requirement, advance rate. Asset-backed Notes at Fair Value The following table presents information regarding asset-backed notes at fair value: June 30, 2024 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate (3) Original revolving period (4) (in thousands) Asset-backed notes recorded at fair value: Oportun Issuance Trust (Series 2022-3) $ 300,000 $ 310,993 $ 93,233 $ 106,868 10.35 % N/A Oportun Issuance Trust (Series 2022-2) 400,000 410,212 78,006 90,145 9.87 % N/A Oportun Issuance Trust (Series 2022-A) 400,000 410,211 394,945 415,204 5.44 % 2 years Oportun Issuance Trust (Series 2021-C) 500,000 512,762 466,863 519,349 2.48 % 3 years Oportun Issuance Trust (Series 2021-B) 500,000 512,759 443,817 486,952 2.05 % 3 years Oportun Funding XIV, LLC (Series 2021-A) 375,000 383,632 106,224 119,066 1.79 % 2 years Total asset-backed notes recorded at fair value $ 2,475,000 $ 2,540,569 $ 1,583,088 $ 1,737,584 December 31, 2023 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate ( 3) Original revolving period (4) (in thousands) Asset-backed notes recorded at fair value: Oportun Issuance Trust (Series 2022-3) $ 300,000 $ 310,993 $ 145,732 $ 165,079 9.34 % N/A Oportun Issuance Trust (Series 2022-2) 400,000 410,212 135,825 156,027 8.46 % N/A Oportun Issuance Trust (Series 2022-A) 400,000 410,211 390,755 415,448 5.44 % 2 years Oportun Issuance Trust (Series 2021-C) 500,000 512,762 459,212 519,612 2.47 % 3 years Oportun Issuance Trust (Series 2021-B) 500,000 512,759 466,317 519,115 2.05 % 3 years Oportun Funding XIV, LLC (Series 2021-A) 375,000 383,632 182,164 200,758 1.78 % 2 years Oportun Funding XIII, LLC (Series 2019-A) 279,412 294,118 — — — % 3 years Total asset-backed notes recorded at fair value $ 2,754,412 $ 2,834,687 $ 1,780,005 $ 1,976,039 (1) Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at fair value for asset-backed notes recorded at fair value. (2) Includes the unpaid principal balance of loans receivable, the balance of required reserve funds, cash, cash equivalents and restricted cash pledged by the Company. (3) Weighted average interest rate excludes notes retained by the Company. There were no notes retained by the Company as of June 30, 2024. The weighted average interest rate for Series 2022-A, Series 2022-2 and Series 2022-3 will change over time as the notes pay sequentially (in class priority order). (4) The revolving period for Series 2021-A ended on March 1, 2023, Series 2021-B ended on May 1, 2024, and Series 2022-A ended on June 1, 2024. These asset-backed notes have been amortizing since then. Series 2022-2 and Series 2022-3 are both amortizing deals with no revolving period. Asset-backed Borrowings at Amortized Cost The following table represents information regarding the Company's Asset-backed borrowings at amortized cost: June 30, 2024 December 31, 2023 Balance Balance Asset-backed borrowings at amortized cost Pledged Asset (1) Associated Liability Pledged Asset (1) Associated Liability (in thousands) Oportun Issuance Trust 2024-1 $ 150,656 $ 149,728 $ — $ — Oportun CL Trust 2023-A 197,390 195,444 197,390 195,057 Other Asset Backed Borrowings 488,613 491,721 382,712 386,411 Total asset-backed borrowings recorded at amortized cost: $ 836,659 $ 836,893 $ 580,102 $ 581,468 (1) The amount of pledged assets are recognized within the Loans Receivable at Fair Value on the Consolidated Balance Sheet. On February 13, 2024, the Company announced the issuance of $199.5 million of Series 2024-1 fixed-rate asset-backed notes secured by a pool of its unsecured and secured personal installment loans (the "2024-1 Securitization"). The 2024-1 Securitization included four classes of fixed rate notes. The notes were offered and sold in a private placement in reliance on Rule 144A under the U.S. Securities Act of 1933, as amended, and were priced with a weighted average yield of 8.600% per annum and weighted average coupon of 8.434% per annum. On October 20, 2023, the Company entered into a Receivables Loan and Security Agreement (the “Receivables Loan and Security Agreement”), pursuant to which the Company borrowed $197 million. Borrowings under the Receivables Loan and Security Agreement accrue interest at a weighted average interest rate equal to 10.05%. Acquisition and Corporate Financing The following table presents information regarding the Company's Acquisition and Corporate Financings: June 30, 2024 December 31, 2023 Entity Original Balance Maturity Date Interest Rate Balance Balance (in thousands) Oportun Financial Corporation (1) $ 150,000 September 14, 2026 SOFR (minimum of 0.00%) + 12.00% $ 192,049 $ 204,100 Oportun RF, LLC (2) 116,000 January 10, 2025 SOFR (minimum of 0.00%) + 11.00% 38,333 54,646 Total acquisition and corporate financings $ 266,000 $ 230,382 $ 258,746 (1) The Corporate Financing facility (Oportun Financial Corporation) was amended and upsized to $75.0 million on March 10, 2023. (2) As of December 31, 2023, the maturity date of the Acquisition Financing facility (Oportun RF, LLC) was October 10, 2024. Amendments to Corporate Financing On March 12, 2024, the Company entered into Amendment No. 3 to the Corporate Financing (the “Third Amendment”). The Third Amendment included modifications to the minimum asset coverage ratio covenant levels, provided for an interest rate step-up of 3.00% per annum for certain months beginning in August 2024 in which the asset coverage ratio is less than 1.00 to 1.00, and required certain principal payments in amounts equal to $5.7 million per month to be made on the last business day of each of March, April and May 2024. In addition, the Third Amendment required principal payments equal to 100% of the net cash proceeds of any future issuance of indebtedness junior in priority to the obligations under the Corporate Financing. Amendments to Acquisition Financing On March 8, 2024, the Acquisition Financing facility (Oportun RF, LLC) was amended to provide for a three-month principal payment holiday for the months of March, April and May 2024, in amounts equal to $5.7 million per month. In addition, the amendment extended the term of the Acquisition Financing facility to January 10, 2025. See Note 10, Stockholders' Equity for additional information on the Warrants. As of June 30, 2024, and December 31, 2023, the Company was in compliance with all covenants and requirements of the Secured Financing, Acquisition and Corporate Financing facilities and asset-backed notes.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities consist of the following: June 30, December 31, (in thousands) 2024 2023 Accounts payable $ 9,872 $ 5,288 Accrued compensation 10,670 15,359 Accrued expenses 20,521 24,791 Accrued interest 10,117 8,415 Amount due to whole loan buyer 5,795 4,169 Current tax liabilities 7,472 7,139 Other 3,265 3,777 Total other liabilities $ 67,712 $ 68,938

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Preferred Stock - The board of directors of the Company (the “Board”) has the authority, without further action by the Company's stockholders, to issue up to 100,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by the Board. There were no shares of undesignated preferred stock issued or outstanding as of June 30, 2024 or December 31, 2023. Common Stock - As of June 30, 2024 and December 31, 2023, the Company was authorized to issue 1,000,000,000 shares of common stock with a par value of $0.0001 per share. As of June 30, 2024, 35,994,744 and 35,722,721 shares were issued and outstanding, respectively, and 272,023 shares were held in treasury stock. As of December 31, 2023, 34,741,076 and 34,469,053 shares were issued and outstanding, respectively, and 272,023 shares were held in treasury stock. Warrants - On March 10, 2023, pursuant to the Second Amendment of the Corporate Financing facility, the Company issued detachable Warrants to the lenders providing the Incremental Tranche A-1 Loans to purchase 1,980,242 shares of the Company’s common stock at an exercise price of $0.01 per share. On March 27, 2023, in connection with the funding of the Incremental Tranche A-2 Loans, the Company issued Warrants to the lenders providing the Incremental Tranche A-2 Loans to purchase 116,485 shares of the Company’s common stock at an exercise price of $0.01 per share. On May 5, 2023, in connection with the funding of the Incremental Tranche B Loans, the Company issued Warrants to the lenders providing the Incremental Tranche B Loans to purchase 1,048,363 shares of the Company's common stock at an exercise price of $0.01 per share. On June 30, 2023, in connection with the funding of the Incremental Tranche C Loans, the Company issued Warrants to the lenders providing the Incremental Tranche C Loans to purchase 1,048,363 shares of the Company’s common stock at an exercise price of $0.01 per share. See Liquidity and Capital Resources section for additional information on the Second Amendment of the Corporate Financing facility.

Equity Compensation and Other B

Equity Compensation and Other Benefits	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity Compensation and Other Benefits	Equity Compensation and Other Benefits The Company's stock-based plans are described and informational disclosures are provided in the Notes to the Consolidated Financial Statements included in the Annual Report. Stock-based Compensation - Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations (Unaudited) is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Technology and facilities $ 769 $ 1,159 $ 1,928 $ 2,208 Sales and marketing 29 10 53 43 Personnel 2,144 3,300 4,943 7,096 Total stock-based compensation (1) $ 2,942 $ 4,469 $ 6,924 $ 9,347 (1) Amounts shown are net of $0.2 million and $0.5 million of capitalized stock-based compensation for the three and six months ended June 30, 2024, respectively, and net of $0.3 million and $0.7 million of capitalized stock-based compensation for the three and six months ended June 30, 2023, respectively. As of June 30, 2024, and December 31, 2023, the Company’s total unrecognized compensation cost related to unvested stock-based option awards granted to employees was $1.5 million and $2.6 million, respectively, which will be recognized over a weighted-average vesting period of approximately 1.7 years and 1.9 years, respectively. As of June 30, 2024 and December 31, 2023, the Company's total unrecognized compensation cost related to time-based and performance-based unvested restricted stock unit awards granted to employees was $21.0 million and $24.8 million, respectively, which will be recognized over a weighted average vesting period of approximately 2.2 years and 2.1 years, respectively.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Interest Income - Total interest income included in the Condensed Consolidated Statements of Operations (Unaudited) is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Interest income Interest on loans $ 228,242 $ 236,028 $ 453,925 $ 468,228 Fees on loans 3,131 4,435 8,038 9,854 Total interest income 231,373 240,463 461,963 478,082 Non-interest Income - Total non-interest income included in the Condensed Consolidated Statements of Operations (Unaudited) is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Non-interest income Servicing fees $ 3,463 $ 3,544 $ 6,872 $ 7,224 Subscription revenue 5,437 6,301 11,956 13,179 Interest on member accounts 9,029 6,201 13,696 11,429 Gain on loan sales and other 1,094 10,054 6,391 16,161 Total non-interest income $ 19,023 $ 26,100 $ 38,915 $ 47,993

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended June 30, 2024 and 2023, the Company calculated its year-to-date income tax expense (benefit) by applying the estimated annual effective tax rate to the year-to-date income from operations before income taxes and adjusts the income tax expense (benefit) for discrete tax items recorded in the period. During the three and six months ended June 30, 2024, the Company recorded income tax benefit of $18.1 million and $22.2 million, respectively, related to continuing operations, representing an effective tax rate of 36.9% and 27.8%, respectively. Income tax benefit for the three and six months ended June 30, 2023 was $2.6 million and $42.0 million, representing an effective income tax rate of 14.7% and 26.4%, respectively. Income tax benefit increased by $15.6 million or 605%, from $2.6 million for the three months ended June 30, 2023 to $18.1 million benefit for the three months ended June 30, 2024, primarily as a result of having a larger pretax loss for the three months ended June 30, 2024. Income tax benefit decreased by $19.9 million or 47%, from $42.0 million for the six months ended June 30, 2023 to $22.2 million for the six months ended June 30, 2024, primarily as a result of having a lower pretax loss for the six months ended June 30, 2024. The Company's effective tax rates for the three and six months ended June 30, 2024 and 2023 differ from the statutory tax rates primarily due to the impacts of the research and development tax credit, and stock-based compensation. The Company’s policy is to recognize interest and penalties associated with unrecognized tax positions in income tax expense. At the end of 2024, the Company expects it will no longer be subject to any significant U.S. federal tax examinations by tax authorities for all years prior to 2021. Thus, the Company expects to release $3.4 million of uncertain tax positions within the next twelve months due to the expiration of various statute of limitations. In December 2021, the Organization for Economic Co-operation and Development Inclusive Framework on Base Erosion Profit Shifting released Model Global Anti-Base Erosion rules (“Model Rules”) under Pillar Two. The Model Rules set forth the “common approach” for a Global Minimum Tax at 15 percent for multinational enterprises with a turnover of more than 750 million euros. Rules under Pillar Two were effective from January 1, 2024. The Company does not expect adoption of Pillar Two rules to have a significant impact on its consolidated financial statements during fiscal year 2024.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial Instruments at Fair Value The table below compares the fair value of loans receivable and asset-backed notes to their contractual balances for the periods shown: June 30, 2024 December 31, 2023 (in thousands) Unpaid Principal Balance Fair Value Unpaid Principal Balance Fair Value Assets Loans receivable - personal loans $ 2,656,551 $ 2,714,410 $ 2,824,342 $ 2,853,186 Loans receivable - credit cards — — 111,145 109,166 Total Loans Receivable at Fair Value $ 2,656,551 $ 2,714,410 $ 2,935,487 $ 2,962,352 Credit cards receivable held for sale 89,713 55,720 — — Liabilities Asset-backed notes 1,648,456 1,583,088 1,874,406 1,780,005 The Company calculates the fair value of the asset-backed notes using independent pricing services and broker price indications, which are based on quoted prices for identical or similar notes, which are Level 2 input measures. The Company primarily uses a discounted cash flow model to estimate the fair value of Level 3 instruments based on the present value of estimated future cash flows. This model uses inputs that are inherently judgmental and reflect management’s best estimates of the assumptions a market participant would use to calculate fair value. The following tables present quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for Loans Receivable at Fair Value. The personal loans receivable balance at fair value as of June 30, 2024, consists of $2,578.9 million of unsecured personal loans receivable and $135.5 million of secured personal loans receivable. June 30, 2024 December 31, 2023 Personal Loans Receivable Minimum Maximum Weighted Average (2) Minimum Maximum Weighted Average (2) Remaining cumulative charge-offs (1) 7.51% 49.47% 11.57% 6.87% 51.00% 11.80% Remaining cumulative prepayments (1) 0.00% 25.62% 20.87% 0.00% 28.17% 23.83% Average life (years) 0.07 1.33 1.02 0.18 1.37 1.01 Discount rate 8.66% 8.66% 8.66% 10.10% 10.10% 10.10% (1) Figure disclosed as a percentage of outstanding principal balance. (2) Unobservable inputs were weighted by outstanding principal balance, which are grouped by risk (type of customer, original loan maturity terms). June 30, 2024 December 31, 2023 Credit Card Receivables Range (2) Range Remaining cumulative charge-offs (1) N/A 20.16% Principal payment rate (1) N/A 7.06% Average life (years) N/A 1.00 Discount rate N/A 10.20% (1) Figure disclosed as a percentage of outstanding principal balance. (2) As of June 30, 2024, the Company determined the fair value of the credit card receivables held for sale based on the terms outlined in the non-binding letter of intent. The Company has derivative instruments in connection with its bank partnership program with Pathward, N.A. related to excess interest proceeds it expects to receive on loans retained by Pathward, N.A. Based on the agreement underlying the bank partnership program, for all loans originated and retained by Pathward, Pathward receives a fixed interest rate. The Company bears the risk of credit loss and has the benefit of any excess interest proceeds after satisfying various obligations under the agreement. The fair value of the derivative instrument as of June 30, 2024 and December 31, 2023, were $11.4 million and $9.3 million, respectively. The underlying cash flows as of June 30, 2024 and December 31, 2023, were $14.2 million and $12.2 million, respectively. The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for derivative instruments presented within Other Assets in the Condensed Consolidated Balance Sheets (Unaudited): June 30, 2024 December 31, 2023 Low High Weighted Average Low High Weighted Average Remaining cumulative charge-offs 0.98% 33.81% 9.90% 1.09% 30.38% 10.56% Remaining cumulative prepayments 0.00% 2.71% 0.61% 0.01% 3.89% 0.92% Average life (years) 0.37 1.97 1.64 0.36 2.00 1.64 Discount rate 17.78% 17.78% 17.78% 17.00% 17.00% 17.00% Fair value adjustments related to financial instruments where the fair value option has been elected are recorded through earnings for the six months ended June 30, 2024 and 2023. Certain unobservable inputs may (in isolation) have either a directionally consistent or opposite impact on the fair value of the financial instrument for a given change in that input. When multiple inputs are used within the valuation techniques for loans, a change in one input in a certain direction may be offset by an opposite change from another input. For personal loans receivable, the Company developed an internal model to estimate the fair value of loans receivable held for investment. To generate future expected cash flows, the model combines receivable characteristics with assumptions about borrower behavior based on the Company’s historical loan performance. These cash flows are then discounted using a required rate of return that management estimates would be used by a market participant. The Company tested the unsecured personal loan fair value model by comparing modeled cash flows to historical loan performance to ensure that the model was complete, accurate and reasonable for the Company’s use. The Company also engaged a third party to create an independent fair value estimate for the Loans Receivable at Fair Value, which provides a set of fair value marks using the Company’s historical loan performance data and whole loan sale prices to develop independent forecasts of borrower behavior. On June 21, 2024, the Company entered into a nonbinding letter of intent with a third-party to sell the credit card receivable portfolio originated under the Company's credit card program. Following the decision to sell the credit card receivable portfolio the Company used the agreed upon sale price to determine the fair value. Prior to this decision, the Company used historical data to derive assumptions about certain loan portfolio characteristics such as principal payment rates, interest yields and fee yields. Similar to the model used for personal loans receivable, the Company engaged a third party to create an independent fair value estimate, which provides a range of fair values that are compared for reasonableness. For the derivative, the Company uses a base set of cash flows derived from historical data and management assumptions. From this base set of cash flows, funds that are projected to be released to the Company according to the contractual terms outlined in the waterfall agreement are calculated on an aggregate basis then discounted at a rate that is representative of equity yield. The table below presents a reconciliation of Loans Receivable at Fair Value on a recurring basis using significant unobservable inputs: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Balance – beginning of period $ 2,841,525 $ 3,044,478 $ 2,962,352 $ 3,175,449 Principal disbursements 678,040 723,751 1,262,202 1,397,686 Principal and interest payments from members (591,964) (594,856) (1,187,997) (1,216,827) Other loan sales (19,234) (56,378) (54,091) (94,588) Gross charge-offs (101,545) (115,200) (204,582) (222,606) Credit card receivables reclassified as held for sale (55,720) — (55,720) — Net increase (decrease) in fair value (36,692) 14,186 (7,754) (23,133) Balance – end of period $ 2,714,410 $ 3,015,981 $ 2,714,410 $ 3,015,981 As of June 30, 2024, the aggregate fair value of loans that are 90 days or more past due and in non-accrual status was $4.7 million, and the aggregate unpaid principal balance for loans that are 90 days or more past due was $34.2 million. As of December 31, 2023, the aggregate fair value of loans that are 90 days or more past due and in non-accrual status was $5.2 million, and the aggregate unpaid principal balance for loans that are 90 days or more past due was $41.5 million. Financial Instruments Disclosed But Not Carried at Fair Value The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy: June 30, 2024 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 72,871 $ 72,871 $ 72,871 $ — $ — Restricted cash 163,765 163,765 163,765 — — Loans held for sale (Note 5) 502 520 — — 520 Liabilities Accounts payable 9,872 9,872 9,872 — — Secured financing (Note 8) 156,696 156,617 — 156,617 — Asset-backed borrowings at amortized cost (Note 8) (1) 836,659 840,659 — 352,046 488,613 Acquisition and corporate financing (Note 8) 251,392 247,890 — 247,890 — (1) As of June 30, 2024, the Company estimates the carrying value of the Level 3 other asset-backed borrowings at amortized cost to approximate their fair value as the underlying cash flows and associated assumptions are reviewed and updated each period. December 31, 2023 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 91,187 $ 91,187 $ 91,187 $ — $ — Restricted cash 114,829 114,829 114,829 — — Liabilities Accounts payable 5,288 5,288 5,288 — — Secured financing (Note 8) 290,949 285,231 — 285,231 — Asset-backed borrowings at amortized cost (Note 8) (1) 580,101 580,101 — — 580,101 Acquisition and corporate financing (Note 8) 285,682 286,865 — 286,865 — As of December 31, 2023, the Company estimates the carrying value of asset-backed borrowings at amortized cost to approximate their fair value as the underlying cash flows and associated assumptions are reviewed and updated each period. The Company uses the following methods and assumptions to estimate fair value: • Cash, cash equivalents, restricted cash and accounts payable ‑ The carrying values of certain of the Company’s financial instruments, including cash and cash equivalents, restricted cash and accounts payable, approximate Level 1 fair values of these financial instruments due to their short-term nature. • Loans held for sale ‑ The fair values of loans held for sale are based on a negotiated agreement with the purchaser. • Secured financing, acquisition and corporate financing ‑ The fair values of the secured financing, and acquisition and corporate financing facilities have been calculated using discount rates equivalent to the weighted-average market yield of comparable debt securities, which is a Level 2 input measure. • Asset-backed borrowings at amortized cost ‑ The fair values of the asset-backed borrowings at amortized cost include both securitizations carried at amortized cost and secured borrowings. We obtain indicative pricing on comparable debt securities for securitizations carried at amortized cost, which is a Level 2 input measure. Fair values of secured borrowings included in asset-backed borrowings at amortized cost have been calculated by discounting the contractual cash flows at the interest rate the Company estimates such arrangement would bear if executed in the current market, which is a Level 3 input measure. There were no transfers in or out of Level 3 assets and liabilities for the three and six months ended June 30, 2024 and 2023 and the year ended December 31, 2023.

Leases, Commitments and Conting

Leases, Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Leases, Commitments and Contingencies	Leases, Commitments and Contingencies Leases - The Company’s leases are primarily for real property consisting of retail locations and office space and have remaining lease terms of less than 6 years. The Company recognized an impairment of the right-of-use asset related to the leased office space in San Carlos, California of $6.2 million due to a significant decrease in observed market rents for commercial office space, and the inability to find sub-lessee given the remaining lease term and market conditions. The impairment charges were recognized in General, administrative and other in the Consolidated Statements of Operations. The Company has elected the practical expedient to keep leases with terms of 12 months or less off the balance sheet as no recognition of a lease liability and a right-of-use asset is required. Operating lease expense is recognized on a straight-line basis over the lease term in "Technology and facilities" in the Condensed Consolidated Statements of Operations (Unaudited). All of the Company’s existing lease arrangements are classified as operating leases. At the inception of a contract, the Company determines if the contract is or contains a lease. At the commencement date of a lease, the Company recognizes a lease liability equal to the present value of the lease payments and a right-of-use asset representing the Company's right to use the underlying asset for the duration of the lease term. The Company’s leases include options to extend or terminate the arrangement at the end of the original lease term. The Company generally does not include renewal or termination options in its assessment of the leases unless extension or termination for certain assets is deemed to be reasonably certain. Variable lease payments and short-term lease costs were deemed immaterial. The Company’s leases do not provide an explicit rate. The Company uses its contractual borrowing rate to determine lease discount rates. As of June 30, 2024, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2024 (remaining six months) $ 6,212 2025 11,159 2026 5,080 2027 1,865 2028 567 2029 133 Thereafter — Total lease payments 25,016 Imputed interest (1,881) Total leases $ 23,135 Sublease income 2024 (remaining six months) $ (241) 2025 (587) 2026 (605) 2027 (153) 2028 and thereafter — Total lease payments (1,586) Imputed interest 185 Total sublease income $ (1,401) Net lease liabilities $ 21,734 Weighted average remaining lease term 2.4 years Weighted average discount rate 4.81 % As of December 31, 2023, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2024 12,786 2025 10,851 2026 4,700 2027 1,661 2028 435 2029 40 Thereafter — Total lease payments 30,473 Imputed interest (2,097) Total leases $ 28,376 Weighted average remaining lease term 2.7 years Weighted average discount rate 4.72 % Rental expenses under operating leases for the three and six months ended June 30, 2024, were $3.3 million, and $7.1 million, respectively, and for the three and six months ended June 30, 2023, were $4.7 million, and $9.1 million, respectively. Purchase Commitments ‑ The Company has commitments to purchase information technology and communication services in the ordinary course of business, with various terms through 2027. These amounts are not reflective of the Company’s entire anticipated purchases under the related agreements; rather, they are determined based on the non-cancelable amounts to which the Company is contractually obligated. The Company’s purchase obligations are $20.6 million for the remainder of 2024, $29.4 million in 2025, $14.5 million in 2026, $1.2 million in 2027 and $0.0 million in 2028. Bank Partnership Program and Servicing Agreement - The Company entered into a bank partnership program with Pathward, N.A. on August 11, 2020. In accordance with the agreements underlying the bank partnership program, Oportun has a commitment to purchase an increasing percentage of program loans originated by Pathward based on thresholds specified in the agreements. Lending under the partnership was launched in August of 2021. After Pathward has met its retention requirement, the Company has a commitment to purchase all additional program loans. Unfunded Loan and Credit Card Commitments - Unfunded loan and credit card commitments at June 30, 2024 and December 31, 2023 were $28.5 million and $32.9 million, respectively. WebBank has a direct obligation to borrowers to fund such credit card commitments subject to the respective account agreements with such borrowers; however, pursuant to the Receivables Purchase Agreement between WebBank and Oportun, Inc., the Company has the obligation to purchase receivables from WebBank representing these unfunded amounts. Mexico Value-added Tax - In October 2023, the Company's Mexico subsidiary received notice from Mexico's Servicio de Administración Tributaria, the Mexican federal tax authority, for claims related to the alleged underpayment of value-added tax, including inflationary adjustments, fines and penalties for tax years 2017-2019. The Company disputes that there were underpayments in any of those years, and intends to pursue all available administrative and legal avenues of appeal to assert its position. No accrual related to this matter has been recorded as of June 30, 2024, as the Company believes it is not probable to be incurred. However, it is reasonably possible the Company will be unsuccessful in asserting at least some of these claims, and for those claims, the Company believes it may be exposed to a liability ranging from zero to $3.8 million, consisting of $1.2 million of value-added tax and $2.6 million of inflationary adjustments, fines and penalties. These estimates are subject to change based on the results of the administrative and legal appeal processes, however, timing of the resolution of this issue is unknown. Litigation From time to time, the Company may bring or be subject to other legal proceedings and claims in the ordinary course of business, including legal proceedings with third parties asserting infringement of their intellectual property rights, consumer litigation, and regulatory proceedings. The Company is not presently a party to any other legal proceedings that, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, financial condition, cash flows or results of operations. See Part II. Item 1. Legal Proceedings for additional information regarding legal proceedings in which the Company is involved.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On September 14, 2022, the Company entered into an agreement to borrow $150.0 million of a senior secured term loan with certain funds associated with Neuberger Berman Specialty Finance ("Neuberger"). On March 10, 2023, the Company upsized and amended its Corporate Financing facility and borrowed an additional $75.0 million over four separate tranches from March 10, 2023 to June 30, 2023. In connection with the additional $75.0 million, the Company issued warrants to the lenders with each tranche to purchase a total of 4,193,453 shares of its common stock at an exercise price of $0.01 per share (the "Warrants"). Following the issuance of the Warrants, Neuberger is now deemed to be a beneficial owner of greater than ten percent of the Company's outstanding stock pursuant to generally accepted accounting principles. See Note 8, Borrowings for additional information on the Second Amendment of the Corporate Financing facility and Note 10, Stockholders' Equity for additional information on the Warrants. In addition, on June 16, 2023, the Company entered into a forward flow whole loan sale agreement with Neuberger. Pursuant to this agreement, the Company agreed to sell up to $300.0 million of its personal loan originations over the subsequent twelve months. On April 26, 2024, we amended the agreement to extend the term and revised the commitment amount to sell $370.9 million of personal loan originations in aggregate through October 2024. The Company will continue to service these loans upon transfer of the receivables. As part of this agreement, during the three and six months ended June 30, 2024 the Company transferred loans receivable totaling $70.2 million and $70.6 million, respectively. See Liquidity and Capital Resources section for additional information on the forward flow whole loan sale agreement. For the three months ended June 30, 2024 and 2023 the Company recorded interest expense under these agreements of $11.0 million and $9.0 million, respectively, primarily related to the Corporate Financing agreement and $7.2 million and $0.1 million, respectively, related to the secured borrowing agreement. The expected cash flows are used to calculate interest expense on the secured borrowing, using the effective interest method. Related to transferred loans, the Company also recorded $14.7 million and $0.1 million of interest income in the Company's Condensed Consolidated Statements of Operations (Unaudited) for the three months ended June 30, 2024 and 2023, respectively. For the six months ended June 30, 2024 and 2023, the Company recorded interest expense under these agreements of $22.5 million and $15.3 million, respectively, primarily related to the Corporate Financing agreement and, $13.6 million and $0.1 million, respectively, related to the secured borrowing agreement. The expected cash flows are used to calculate interest expense on the secured borrowing, using the effective interest method. Related to the transferred loans, the Company also recorded $19.5 million and $0.1 million of interest income in the Company's Condensed Consolidated Statements of Operations (Unaudited) for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and December 31, 2023, loans receivable at fair value underlying the secured borrowing with Neuberger was $227.8 million and $200.8 million, respectively, The Company had Asset-backed borrowings at amortized costs of $229.8 million and corporate financing of $192.0 million due to Neuberger as of June 30, 2024 and, $201.8 million and $204.1 million, respectively, as of December 31, 2023. The Company also had an insignificant amount of Interest and fee receivable, net and Other liabilities in its Condensed Consolidated Balance Sheets (Unaudited) as of June 30, 2024 related to these transactions.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation ‑ The Company meets the SEC's definition of a “Smaller Reporting Company”, and therefore qualifies for the SEC's reduced disclosure requirements for smaller reporting companies. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These statements are unaudited and reflect all normal, recurring adjustments that are, in management's opinion, necessary for the fair presentation of results. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior-period financial information has been reclassified to conform to current period presentation. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Annual Report"), filed with the Securities and Exchange Commission ("SEC") on March 15, 2024.
Use of Estimates	Use of Estimates ‑ The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates and assumptions.
Recently Adopted Accounting Standards and Accounting Standards to be Adopted	Recently Adopted Accounting Standards None. Accounting Standards to be Adopted Income Taxes - In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. This ASU requires entities to disclose in their rate reconciliation table additional categories or information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold and requires annual disclosure of income taxes paid to be disaggregated by federal, state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company has evaluated the effect of the new guidance and determined the ASU expands tax disclosures but it will not have a material impact on the consolidated financial statements. Segment Reporting - In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The ASU enhances disclosures about significant segment expenses, provides new segment disclosure requirements for entities with a single reportable segment, enhances interim disclosure requirements, clarifies circumstances in which an entity is permitted to disclose multiple segment measures of profit or loss and other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company has evaluated the effect of the new guidance and determined that the expanded segment disclosures will not have a material impact on the consolidated financial statements.
Fair Value of Financial Instruments	Fair value adjustments related to financial instruments where the fair value option has been elected are recorded through earnings for the six months ended June 30, 2024 and 2023. Certain unobservable inputs may (in isolation) have either a directionally consistent or opposite impact on the fair value of the financial instrument for a given change in that input. When multiple inputs are used within the valuation techniques for loans, a change in one input in a certain direction may be offset by an opposite change from another input. For personal loans receivable, the Company developed an internal model to estimate the fair value of loans receivable held for investment. To generate future expected cash flows, the model combines receivable characteristics with assumptions about borrower behavior based on the Company’s historical loan performance. These cash flows are then discounted using a required rate of return that management estimates would be used by a market participant. The Company tested the unsecured personal loan fair value model by comparing modeled cash flows to historical loan performance to ensure that the model was complete, accurate and reasonable for the Company’s use. The Company also engaged a third party to create an independent fair value estimate for the Loans Receivable at Fair Value, which provides a set of fair value marks using the Company’s historical loan performance data and whole loan sale prices to develop independent forecasts of borrower behavior. On June 21, 2024, the Company entered into a nonbinding letter of intent with a third-party to sell the credit card receivable portfolio originated under the Company's credit card program. Following the decision to sell the credit card receivable portfolio the Company used the agreed upon sale price to determine the fair value. Prior to this decision, the Company used historical data to derive assumptions about certain loan portfolio characteristics such as principal payment rates, interest yields and fee yields. Similar to the model used for personal loans receivable, the Company engaged a third party to create an independent fair value estimate, which provides a range of fair values that are compared for reasonableness. For the derivative, the Company uses a base set of cash flows derived from historical data and management assumptions. From this base set of cash flows, funds that are projected to be released to the Company according to the contractual terms outlined in the waterfall agreement are calculated on an aggregate basis then discounted at a rate that is representative of equity yield.
Leases	Leases - The Company’s leases are primarily for real property consisting of retail locations and office space and have remaining lease terms of less than 6 years. The Company recognized an impairment of the right-of-use asset related to the leased office space in San Carlos, California of $6.2 million due to a significant decrease in observed market rents for commercial office space, and the inability to find sub-lessee given the remaining lease term and market conditions. The impairment charges were recognized in General, administrative and other in the Consolidated Statements of Operations. The Company has elected the practical expedient to keep leases with terms of 12 months or less off the balance sheet as no recognition of a lease liability and a right-of-use asset is required. Operating lease expense is recognized on a straight-line basis over the lease term in "Technology and facilities" in the Condensed Consolidated Statements of Operations (Unaudited). All of the Company’s existing lease arrangements are classified as operating leases. At the inception of a contract, the Company determines if the contract is or contains a lease. At the commencement date of a lease, the Company recognizes a lease liability equal to the present value of the lease payments and a right-of-use asset representing the Company's right to use the underlying asset for the duration of the lease term. The Company’s leases include options to extend or terminate the arrangement at the end of the original lease term. The Company generally does not include renewal or termination options in its assessment of the leases unless extension or termination for certain assets is deemed to be reasonably certain. Variable lease payments and short-term lease costs were deemed immaterial. The Company’s leases do not provide an explicit rate. The Company uses its contractual borrowing rate to determine lease discount rates.

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings (Loss) Per Share	Basic and diluted earnings (loss) per share are calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Net loss $ (31,025) $ (14,899) $ (57,464) $ (116,989) Net income (loss) attributable to common stockholders $ (31,025) $ (14,899) $ (57,464) $ (116,989) Basic weighted-average common shares outstanding 39,816,996 36,691,291 39,358,936 35,342,663 Weighted average effect of dilutive securities: Diluted weighted-average common shares outstanding 39,816,996 36,691,291 39,358,936 35,342,663 Earnings (loss) per share: Basic $ (0.78) $ (0.41) $ (1.46) $ (3.31) Diluted $ (0.78) $ (0.41) $ (1.46) $ (3.31)
Schedule of Antidilutive Securities Excluded from Calculation of Diluted Weighted-Average Common Shares Outstanding	The following common share equivalent securities have been excluded from the calculation of diluted weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options 2,347,491 3,062,442 2,445,681 3,162,156 Restricted stock units 4,058,597 3,730,803 3,842,349 3,842,100 Total anti-dilutive common share equivalents 6,406,088 6,793,245 6,288,030 7,004,256

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table represents the assets and liabilities of consolidated VIEs recorded on the Company’s Condensed Consolidated Balance Sheets (Unaudited): June 30, December 31, (in thousands) 2024 2023 Consolidated VIE assets Restricted cash $ 133,945 $ 91,466 Loans receivable at fair value 2,185,915 2,539,186 Total VIE assets 2,319,860 2,630,652 Consolidated VIE liabilities Secured financing (1) 156,696 290,949 Asset-backed notes at fair value 1,583,088 1,780,005 Asset-backed borrowings at amortized cost 345,172 195,057 Acquisition financing (1) 40,066 57,237 Total VIE liabilities $ 2,125,022 $ 2,323,248 (1) Amounts exclude deferred financing costs. See Note 8, Borrowings for additional information.

Capitalized Software and Othe_2

Capitalized Software and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Capitalization	Capitalized software, net consists of the following: June 30, December 31, (in thousands) 2024 2023 Capitalized software, net: System development costs $ 167,726 $ 158,577 Acquired developed technology 48,500 48,500 Less: Accumulated amortization (140,172) (119,810) Total capitalized software, net $ 76,054 $ 87,267
Schedule of Acquired Intangible Assets	The gross carrying amount and accumulated amortization, in total and by major intangible asset class are as follows: June 30, December 31, (in thousands) 2024 2023 Intangible assets: Member relationships $ 34,500 $ 34,500 Trademarks 5,626 5,626 Other 3,000 3,000 Less: Accumulated amortization (19,492) (15,658) Total intangible assets, net $ 23,634 $ 27,468
Schedule of Future Amortization Expense	Expected future amortization expense for intangible assets as of June 30, 2024 is as follows: (in thousands) Fiscal Years 2024 (remaining six months) $ 3,704 2025 4,929 2026 4,929 2027 4,929 2028 4,780 2029 — Thereafter — Total $ 23,271

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: June 30, December 31, (in thousands) 2024 2023 Fixed assets Total fixed assets $ 42,683 $ 48,944 Less: Accumulated depreciation (37,763) (41,953) Total fixed assets, net $ 4,920 $ 6,991 Other Assets Prepaid expenses $ 13,716 $ 15,758 Deferred tax assets, net 71,615 48,123 Current tax assets 4,315 4,731 Receivable from banking partner 3,837 4,050 Derivative asset 11,432 9,307 Other 24,125 18,720 Total other assets $ 133,960 $ 107,680

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Borrowings	The following table presents information regarding the Company's Secured Financing facilities: June 30, 2024 December 31, 2023 Variable Interest Entity Facility Amount Maturity Date Interest Rate Balance Balance (in thousands) Oportun CCW Trust (1) $ 80,000 December 1, 2024 Adjusted SOFR + 3.41% $ 57,978 $ 68,409 Oportun PLW Trust 600,000 September 1, 2024 Adjusted SOFR + 2.17% 98,458 221,542 Total secured financing $ 680,000 $ 156,436 $ 289,951 (1) As of December 31, 2023, the facility amount of the Secured Financing - CCW facility (Oportun CCW Trust) was $100.0 million. The following table presents information regarding asset-backed notes at fair value: June 30, 2024 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate (3) Original revolving period (4) (in thousands) Asset-backed notes recorded at fair value: Oportun Issuance Trust (Series 2022-3) $ 300,000 $ 310,993 $ 93,233 $ 106,868 10.35 % N/A Oportun Issuance Trust (Series 2022-2) 400,000 410,212 78,006 90,145 9.87 % N/A Oportun Issuance Trust (Series 2022-A) 400,000 410,211 394,945 415,204 5.44 % 2 years Oportun Issuance Trust (Series 2021-C) 500,000 512,762 466,863 519,349 2.48 % 3 years Oportun Issuance Trust (Series 2021-B) 500,000 512,759 443,817 486,952 2.05 % 3 years Oportun Funding XIV, LLC (Series 2021-A) 375,000 383,632 106,224 119,066 1.79 % 2 years Total asset-backed notes recorded at fair value $ 2,475,000 $ 2,540,569 $ 1,583,088 $ 1,737,584 December 31, 2023 Variable Interest Entity Initial note amount issued (1) Initial collateral balance (2) Current balance (1) Current collateral balance (2) Weighted average interest rate ( 3) Original revolving period (4) (in thousands) Asset-backed notes recorded at fair value: Oportun Issuance Trust (Series 2022-3) $ 300,000 $ 310,993 $ 145,732 $ 165,079 9.34 % N/A Oportun Issuance Trust (Series 2022-2) 400,000 410,212 135,825 156,027 8.46 % N/A Oportun Issuance Trust (Series 2022-A) 400,000 410,211 390,755 415,448 5.44 % 2 years Oportun Issuance Trust (Series 2021-C) 500,000 512,762 459,212 519,612 2.47 % 3 years Oportun Issuance Trust (Series 2021-B) 500,000 512,759 466,317 519,115 2.05 % 3 years Oportun Funding XIV, LLC (Series 2021-A) 375,000 383,632 182,164 200,758 1.78 % 2 years Oportun Funding XIII, LLC (Series 2019-A) 279,412 294,118 — — — % 3 years Total asset-backed notes recorded at fair value $ 2,754,412 $ 2,834,687 $ 1,780,005 $ 1,976,039 (1) Initial note amount issued includes notes retained by the Company as applicable. The current balances are measured at fair value for asset-backed notes recorded at fair value. (2) Includes the unpaid principal balance of loans receivable, the balance of required reserve funds, cash, cash equivalents and restricted cash pledged by the Company. (3) Weighted average interest rate excludes notes retained by the Company. There were no notes retained by the Company as of June 30, 2024. The weighted average interest rate for Series 2022-A, Series 2022-2 and Series 2022-3 will change over time as the notes pay sequentially (in class priority order). (4) The revolving period for Series 2021-A ended on March 1, 2023, Series 2021-B ended on May 1, 2024, and Series 2022-A ended on June 1, 2024. These asset-backed notes have been amortizing since then. Series 2022-2 and Series 2022-3 are both amortizing deals with no revolving period. The following table represents information regarding the Company's Asset-backed borrowings at amortized cost: June 30, 2024 December 31, 2023 Balance Balance Asset-backed borrowings at amortized cost Pledged Asset (1) Associated Liability Pledged Asset (1) Associated Liability (in thousands) Oportun Issuance Trust 2024-1 $ 150,656 $ 149,728 $ — $ — Oportun CL Trust 2023-A 197,390 195,444 197,390 195,057 Other Asset Backed Borrowings 488,613 491,721 382,712 386,411 Total asset-backed borrowings recorded at amortized cost: $ 836,659 $ 836,893 $ 580,102 $ 581,468 (1) The amount of pledged assets are recognized within the Loans Receivable at Fair Value on the Consolidated Balance Sheet. The following table presents information regarding the Company's Acquisition and Corporate Financings: June 30, 2024 December 31, 2023 Entity Original Balance Maturity Date Interest Rate Balance Balance (in thousands) Oportun Financial Corporation (1) $ 150,000 September 14, 2026 SOFR (minimum of 0.00%) + 12.00% $ 192,049 $ 204,100 Oportun RF, LLC (2) 116,000 January 10, 2025 SOFR (minimum of 0.00%) + 11.00% 38,333 54,646 Total acquisition and corporate financings $ 266,000 $ 230,382 $ 258,746 (1) The Corporate Financing facility (Oportun Financial Corporation) was amended and upsized to $75.0 million on March 10, 2023. (2) As of December 31, 2023, the maturity date of the Acquisition Financing facility (Oportun RF, LLC) was October 10, 2024.

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	Other liabilities consist of the following: June 30, December 31, (in thousands) 2024 2023 Accounts payable $ 9,872 $ 5,288 Accrued compensation 10,670 15,359 Accrued expenses 20,521 24,791 Accrued interest 10,117 8,415 Amount due to whole loan buyer 5,795 4,169 Current tax liabilities 7,472 7,139 Other 3,265 3,777 Total other liabilities $ 67,712 $ 68,938

Equity Compensation and Other_2

Equity Compensation and Other Benefits (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation	Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations (Unaudited) is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Technology and facilities $ 769 $ 1,159 $ 1,928 $ 2,208 Sales and marketing 29 10 53 43 Personnel 2,144 3,300 4,943 7,096 Total stock-based compensation (1) $ 2,942 $ 4,469 $ 6,924 $ 9,347 (1) Amounts shown are net of $0.2 million and $0.5 million of capitalized stock-based compensation for the three and six months ended June 30, 2024, respectively, and net of $0.3 million and $0.7 million of capitalized stock-based compensation for the three and six months ended June 30, 2023, respectively.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Interest Income	Interest Income - Total interest income included in the Condensed Consolidated Statements of Operations (Unaudited) is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Interest income Interest on loans $ 228,242 $ 236,028 $ 453,925 $ 468,228 Fees on loans 3,131 4,435 8,038 9,854 Total interest income 231,373 240,463 461,963 478,082
Schedule of Non-Interest Income	Non-interest Income - Total non-interest income included in the Condensed Consolidated Statements of Operations (Unaudited) is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Non-interest income Servicing fees $ 3,463 $ 3,544 $ 6,872 $ 7,224 Subscription revenue 5,437 6,301 11,956 13,179 Interest on member accounts 9,029 6,201 13,696 11,429 Gain on loan sales and other 1,094 10,054 6,391 16,161 Total non-interest income $ 19,023 $ 26,100 $ 38,915 $ 47,993

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Loans Receivable and Asset-Backed Notes	The table below compares the fair value of loans receivable and asset-backed notes to their contractual balances for the periods shown: June 30, 2024 December 31, 2023 (in thousands) Unpaid Principal Balance Fair Value Unpaid Principal Balance Fair Value Assets Loans receivable - personal loans $ 2,656,551 $ 2,714,410 $ 2,824,342 $ 2,853,186 Loans receivable - credit cards — — 111,145 109,166 Total Loans Receivable at Fair Value $ 2,656,551 $ 2,714,410 $ 2,935,487 $ 2,962,352 Credit cards receivable held for sale 89,713 55,720 — — Liabilities Asset-backed notes 1,648,456 1,583,088 1,874,406 1,780,005
Schedule of Quantitative Information About Significant Unobservable Inputs	The following tables present quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for Loans Receivable at Fair Value. The personal loans receivable balance at fair value as of June 30, 2024, consists of $2,578.9 million of unsecured personal loans receivable and $135.5 million of secured personal loans receivable. June 30, 2024 December 31, 2023 Personal Loans Receivable Minimum Maximum Weighted Average (2) Minimum Maximum Weighted Average (2) Remaining cumulative charge-offs (1) 7.51% 49.47% 11.57% 6.87% 51.00% 11.80% Remaining cumulative prepayments (1) 0.00% 25.62% 20.87% 0.00% 28.17% 23.83% Average life (years) 0.07 1.33 1.02 0.18 1.37 1.01 Discount rate 8.66% 8.66% 8.66% 10.10% 10.10% 10.10% (1) Figure disclosed as a percentage of outstanding principal balance. (2) Unobservable inputs were weighted by outstanding principal balance, which are grouped by risk (type of customer, original loan maturity terms). June 30, 2024 December 31, 2023 Credit Card Receivables Range (2) Range Remaining cumulative charge-offs (1) N/A 20.16% Principal payment rate (1) N/A 7.06% Average life (years) N/A 1.00 Discount rate N/A 10.20% (1) Figure disclosed as a percentage of outstanding principal balance. (2) As of June 30, 2024, the Company determined the fair value of the credit card receivables held for sale based on the terms outlined in the non-binding letter of intent. June 30, 2024 December 31, 2023 Low High Weighted Average Low High Weighted Average Remaining cumulative charge-offs 0.98% 33.81% 9.90% 1.09% 30.38% 10.56% Remaining cumulative prepayments 0.00% 2.71% 0.61% 0.01% 3.89% 0.92% Average life (years) 0.37 1.97 1.64 0.36 2.00 1.64 Discount rate 17.78% 17.78% 17.78% 17.00% 17.00% 17.00%
Schedule of Reconciliation of Loans Receivable at Fair Value Using Significant Unobservable Inputs	The table below presents a reconciliation of Loans Receivable at Fair Value on a recurring basis using significant unobservable inputs: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Balance – beginning of period $ 2,841,525 $ 3,044,478 $ 2,962,352 $ 3,175,449 Principal disbursements 678,040 723,751 1,262,202 1,397,686 Principal and interest payments from members (591,964) (594,856) (1,187,997) (1,216,827) Other loan sales (19,234) (56,378) (54,091) (94,588) Gross charge-offs (101,545) (115,200) (204,582) (222,606) Credit card receivables reclassified as held for sale (55,720) — (55,720) — Net increase (decrease) in fair value (36,692) 14,186 (7,754) (23,133) Balance – end of period $ 2,714,410 $ 3,015,981 $ 2,714,410 $ 3,015,981
Schedule of Carry Value and Estimated Fair Values of Financial Assets and Liabilities	The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy: June 30, 2024 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 72,871 $ 72,871 $ 72,871 $ — $ — Restricted cash 163,765 163,765 163,765 — — Loans held for sale (Note 5) 502 520 — — 520 Liabilities Accounts payable 9,872 9,872 9,872 — — Secured financing (Note 8) 156,696 156,617 — 156,617 — Asset-backed borrowings at amortized cost (Note 8) (1) 836,659 840,659 — 352,046 488,613 Acquisition and corporate financing (Note 8) 251,392 247,890 — 247,890 — (1) As of June 30, 2024, the Company estimates the carrying value of the Level 3 other asset-backed borrowings at amortized cost to approximate their fair value as the underlying cash flows and associated assumptions are reviewed and updated each period. December 31, 2023 Carrying value Estimated fair value Estimated fair value (in thousands) Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 91,187 $ 91,187 $ 91,187 $ — $ — Restricted cash 114,829 114,829 114,829 — — Liabilities Accounts payable 5,288 5,288 5,288 — — Secured financing (Note 8) 290,949 285,231 — 285,231 — Asset-backed borrowings at amortized cost (Note 8) (1) 580,101 580,101 — — 580,101 Acquisition and corporate financing (Note 8) 285,682 286,865 — 286,865 —

Leases, Commitments and Conti_2

Leases, Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Maturities of Lease Liabilities	As of June 30, 2024, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2024 (remaining six months) $ 6,212 2025 11,159 2026 5,080 2027 1,865 2028 567 2029 133 Thereafter — Total lease payments 25,016 Imputed interest (1,881) Total leases $ 23,135 Sublease income 2024 (remaining six months) $ (241) 2025 (587) 2026 (605) 2027 (153) 2028 and thereafter — Total lease payments (1,586) Imputed interest 185 Total sublease income $ (1,401) Net lease liabilities $ 21,734 Weighted average remaining lease term 2.4 years Weighted average discount rate 4.81 % As of December 31, 2023, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2024 12,786 2025 10,851 2026 4,700 2027 1,661 2028 435 2029 40 Thereafter — Total lease payments 30,473 Imputed interest (2,097) Total leases $ 28,376 Weighted average remaining lease term 2.7 years Weighted average discount rate 4.72 %
Schedule of Sublease Income	As of June 30, 2024, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2024 (remaining six months) $ 6,212 2025 11,159 2026 5,080 2027 1,865 2028 567 2029 133 Thereafter — Total lease payments 25,016 Imputed interest (1,881) Total leases $ 23,135 Sublease income 2024 (remaining six months) $ (241) 2025 (587) 2026 (605) 2027 (153) 2028 and thereafter — Total lease payments (1,586) Imputed interest 185 Total sublease income $ (1,401) Net lease liabilities $ 21,734 Weighted average remaining lease term 2.4 years Weighted average discount rate 4.81 % As of December 31, 2023, maturities of lease liabilities, excluding short-term leases and leases on a month-to-month basis, were as follows: (in thousands) Operating Leases Lease expense 2024 12,786 2025 10,851 2026 4,700 2027 1,661 2028 435 2029 40 Thereafter — Total lease payments 30,473 Imputed interest (2,097) Total leases $ 28,376 Weighted average remaining lease term 2.7 years Weighted average discount rate 4.72 %

Organization and Description _2

Organization and Description of Business - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 numberOfSegment
Accounting Policies [Abstract]
Number of reportable segments	1

Earnings (Loss) per Share - Sch

Earnings (Loss) per Share - Schedule of Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net loss	$ (31,025)	$ (26,439)	$ (14,899)	$ (102,090)	$ (57,464)	$ (116,989)
Net income (loss) attributable to common stockholders	(31,025)		(14,899)		(57,464)	(116,989)
Net income (loss) attributable to common stockholders	$ (31,025)		$ (14,899)		$ (57,464)	$ (116,989)
Basic weighted-average common shares outstanding (in shares)	39,816,996		36,691,291		39,358,936	35,342,663
Weighted average effect of dilutive securities:
Diluted weighted-average common shares outstanding (in shares)	39,816,996		36,691,291		39,358,936	35,342,663
Earnings (loss) per share:
Basic (in USD per share)	$ (0.78)		$ (0.41)		$ (1.46)	$ (3.31)
Diluted (in USD per share)	$ (0.78)		$ (0.41)		$ (1.46)	$ (3.31)

Earnings (Loss) per Share - S_2

Earnings (Loss) per Share - Schedule of Antidilutive Securities Excluded From Calculation of Diluted Weighted-Average Common Shares Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	6,406,088	6,793,245	6,288,030	7,004,256
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	2,347,491	3,062,442	2,445,681	3,162,156
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	4,058,597	3,730,803	3,842,349	3,842,100

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Variable Interest Entity [Line Items]
Restricted cash	$ 163,765	$ 114,829	$ 128,964
Loans receivable at fair value	2,714,410	2,962,352
Total assets	3,250,361	3,411,888
Secured financing	156,436	289,951
Asset-backed notes at fair value	1,583,088	1,780,005
Asset-backed borrowings at amortized cost	836,893	581,468
Acquisition financing	230,382	258,746
Total liabilities	2,896,245	3,007,484
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Restricted cash	133,945	91,466
Loans receivable at fair value	2,185,915	2,539,186
Total assets	2,319,860	2,630,652
Secured financing	156,696	290,949
Asset-backed notes at fair value	1,583,088	1,780,005
Asset-backed borrowings at amortized cost	345,172	195,057
Acquisition financing	40,066	57,237
Total liabilities	$ 2,125,022	$ 2,323,248

Loans Held for Sale and Loans_2

Loans Held for Sale and Loans Sold - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 21, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Servicing Assets at Fair Value
Loans sold and held for sale				$ 50,664	$ 25,678
Originations of loans sold and held for sale				3,608	3,693
Servicing fees		$ 3,463	$ 3,544	6,872	7,224
Credit Card Receivable
Servicing Assets at Fair Value
Decrease in fair value	$ 36,200
Whole Loan Sale Program
Servicing Assets at Fair Value
Loans sold and held for sale		28,400	15,600	50,700	25,700
Originations of loans sold and held for sale		2,100	2,300	3,600	3,700
Servicing fees		$ 1,600	$ 2,500	$ 3,200	$ 5,600

Capitalized Software and Othe_3

Capitalized Software and Other Intangibles - Schedule of Capitalization (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Less: Accumulated amortization	$ (140,172)	$ (119,810)
Total capitalized software, net	76,054	87,267
System development costs
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized software, net:	167,726	158,577
Acquired developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized software, net:	$ 48,500	$ 48,500

Capitalized Software and Othe_4

Capitalized Software and Other Intangibles - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Mar. 08, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 22, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 1,900	$ 1,900	$ 3,800	$ 3,500
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	General, administrative and other
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles written off	$ 800
System development costs
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of system development costs		10,100	10,600	20,400	20,700
System development costs		5,400	$ 7,700	9,200	$ 18,300
Capitalized computer software, gross		167,726		167,726		$ 158,577
Acquired developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized computer software, gross		$ 48,500		$ 48,500		$ 48,500
Acquired developed technology | Hello Digit, Inc. (Digit)
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized computer software, gross							$ 48,500

Capitalized Software and Othe_5

Capitalized Software and Other Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Less: Accumulated amortization	$ (19,492)	$ (15,658)
Total intangible assets, net	23,634	27,468
Member relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	34,500	34,500
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	5,626	5,626
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 3,000	$ 3,000

Capitalized Software and Othe_6

Capitalized Software and Other Intangibles - Schedule of Amortization Expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining six months)	$ 3,704
2025	4,929
2026	4,929
2027	4,929
2028	4,780
2029	0
Thereafter	0
Total	$ 23,271

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed assets
Total fixed assets	$ 42,683	$ 48,944
Less: Accumulated depreciation	(37,763)	(41,953)
Total fixed assets, net	4,920	6,991
Other Assets
Prepaid expenses	13,716	15,758
Deferred tax assets, net	71,615	48,123
Current tax assets	4,315	4,731
Receivable from banking partner	3,837	4,050
Derivative asset	11,432	9,307
Other	24,125	18,720
Total other assets	$ 133,960	$ 107,680

Other Assets - Narrative (Detai

Other Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Depreciation	$ 1,000	$ 900	$ 2,000	$ 2,200
Property, Plant and Equipment [Line Items]
Total fixed assets	42,683		42,683		$ 48,944
Accumulated depreciation	37,763		37,763		$ 41,953
Fixed assets on leased office space
Property, Plant and Equipment [Line Items]
Total fixed assets	3,700		3,700
Accumulated depreciation	$ 3,500		3,500
Loss on disposal of assets			$ 200

Borrowings - Schedule of Secure

Borrowings - Schedule of Secured Financing Facilities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jan. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Facility amount	$ 680,000,000
Secured financing	156,436,000		$ 289,951,000
Credit Facility | Secured Warehouse Facility CCW
Debt Instrument [Line Items]
Facility amount	$ 80,000,000	$ 80,000,000	100,000,000
Interest rate, basis spread (as a percent)	3.41%
Secured financing	$ 57,978,000		68,409,000
Credit Facility | Secured Warehouse Facility
Debt Instrument [Line Items]
Facility amount	$ 600,000,000
Interest rate, basis spread (as a percent)	2.17%
Secured financing	$ 98,458,000		$ 221,542,000

Borrowings - Narrative (Details

Borrowings - Narrative (Details)	Mar. 12, 2024 USD ($)	Mar. 08, 2024 USD ($)	Feb. 13, 2024 USD ($) class	Jun. 30, 2024 USD ($)	Jan. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Facility amount				$ 680,000,000
Acquisition and Corporate Financing Debt
Debt Instrument [Line Items]
Original amount				266,000,000
Asset-Backed Notes
Debt Instrument [Line Items]
Original amount				2,475,000,000		$ 2,754,412,000
Asset-Backed Notes | Oportun Issuance Trust 2024-1
Debt Instrument [Line Items]
Original amount			$ 199,500,000
Number of classes of fixed rate notes | class			4
Asset-Backed Notes | Oportun Issuance Trust 2024-1 | Private Placement
Debt Instrument [Line Items]
Weighted average yield			8.60%
Weighted average coupon			8.434%
Asset-Backed Notes | Asset-Backed Notes
Debt Instrument [Line Items]
Principal payment holiday, period		3 months
Principal payment holiday, amount		$ 5,700,000
Credit Facility | Secured Warehouse Facility CCW
Debt Instrument [Line Items]
Facility amount				$ 80,000,000	$ 80,000,000	$ 100,000,000
Neuberger Berman Specialty Finance | Acquisition and Corporate Financing Debt
Debt Instrument [Line Items]
Interest rate step-up (as a percent)	3%
Asset coverage ratio (less than)	1
Debt instrument, periodic payment	$ 5,700,000
Required principal payment, as percentage of net cash proceeds	100%

Borrowings - Schedule of Asset-

Borrowings - Schedule of Asset-backed Notes (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Current balance	$ 1,583,088	$ 1,780,005
Asset-Backed Notes
Debt Instrument [Line Items]
Original Balance	2,475,000	2,754,412
Current balance	1,583,088	1,780,005
Asset-Backed Notes | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	2,540,569	2,834,687
Asset-Backed Notes | Current Collateral
Debt Instrument [Line Items]
Collateral balance	1,737,584	1,976,039
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-3)
Debt Instrument [Line Items]
Original Balance	300,000	300,000
Current balance	$ 93,233	$ 145,732
Weighted average interest rate	10.35%	9.34%
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-3) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	$ 310,993	$ 310,993
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-3) | Current Collateral
Debt Instrument [Line Items]
Collateral balance	106,868	165,079
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-2)
Debt Instrument [Line Items]
Original Balance	400,000	400,000
Current balance	$ 78,006	$ 135,825
Weighted average interest rate	9.87%	8.46%
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-2) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	$ 410,212	$ 410,212
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-2) | Current Collateral
Debt Instrument [Line Items]
Collateral balance	90,145	156,027
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-A)
Debt Instrument [Line Items]
Original Balance	400,000	400,000
Current balance	$ 394,945	$ 390,755
Weighted average interest rate	5.44%	5.44%
Original revolving period	2 years	2 years
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-A) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	$ 410,211	$ 410,211
Asset-Backed Notes | Oportun Issuance Trust (Series 2022-A) | Current Collateral
Debt Instrument [Line Items]
Collateral balance	415,204	415,448
Asset-Backed Notes | Oportun Issuance Trust (Series 2021-C)
Debt Instrument [Line Items]
Original Balance	500,000	500,000
Current balance	$ 466,863	$ 459,212
Weighted average interest rate	2.48%	2.47%
Original revolving period	3 years	3 years
Asset-Backed Notes | Oportun Issuance Trust (Series 2021-C) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	$ 512,762	$ 512,762
Asset-Backed Notes | Oportun Issuance Trust (Series 2021-C) | Current Collateral
Debt Instrument [Line Items]
Collateral balance	519,349	519,612
Asset-Backed Notes | Oportun Issuance Trust (Series 2021-B)
Debt Instrument [Line Items]
Original Balance	500,000	500,000
Current balance	$ 443,817	$ 466,317
Weighted average interest rate	2.05%	2.05%
Original revolving period	3 years	3 years
Asset-Backed Notes | Oportun Issuance Trust (Series 2021-B) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	$ 512,759	$ 512,759
Asset-Backed Notes | Oportun Issuance Trust (Series 2021-B) | Current Collateral
Debt Instrument [Line Items]
Collateral balance	486,952	519,115
Asset-Backed Notes | Oportun Funding XIV, LLC (Series 2021-A)
Debt Instrument [Line Items]
Original Balance	375,000	375,000
Current balance	$ 106,224	$ 182,164
Weighted average interest rate	1.79%	1.78%
Original revolving period	2 years	2 years
Asset-Backed Notes | Oportun Funding XIV, LLC (Series 2021-A) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance	$ 383,632	$ 383,632
Asset-Backed Notes | Oportun Funding XIV, LLC (Series 2021-A) | Current Collateral
Debt Instrument [Line Items]
Collateral balance	$ 119,066	200,758
Asset-Backed Notes | Oportun Funding XIII, LLC (Series 2019-A)
Debt Instrument [Line Items]
Original Balance		279,412
Current balance		$ 0
Weighted average interest rate		0%
Original revolving period		3 years
Asset-Backed Notes | Oportun Funding XIII, LLC (Series 2019-A) | Initial Collateral
Debt Instrument [Line Items]
Collateral balance		$ 294,118
Asset-Backed Notes | Oportun Funding XIII, LLC (Series 2019-A) | Current Collateral
Debt Instrument [Line Items]
Collateral balance		$ 0

Borrowings - Schedule of Asse_2

Borrowings - Schedule of Asset-backed Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Loans receivable at fair value	$ 2,714,410	$ 2,962,352
Asset-backed borrowings at amortized cost	836,893	581,468
Asset Pledged as Collateral
Debt Instrument [Line Items]
Loans receivable at fair value	836,659	580,102
Oportun Issuance Trust 2024-1
Debt Instrument [Line Items]
Asset-backed borrowings at amortized cost	149,728	0
Oportun Issuance Trust 2024-1 | Asset Pledged as Collateral
Debt Instrument [Line Items]
Loans receivable at fair value	150,656	0
Oportun CL Trust 2023-A
Debt Instrument [Line Items]
Asset-backed borrowings at amortized cost	195,444	195,057
Oportun CL Trust 2023-A | Asset Pledged as Collateral
Debt Instrument [Line Items]
Loans receivable at fair value	197,390	197,390
Other Asset Backed Borrowings
Debt Instrument [Line Items]
Asset-backed borrowings at amortized cost	491,721	386,411
Other Asset Backed Borrowings | Asset Pledged as Collateral
Debt Instrument [Line Items]
Loans receivable at fair value	$ 488,613	$ 382,712

Borrowings - Schedule of Acquis

Borrowings - Schedule of Acquisition Corporate Financing (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Mar. 10, 2023
Debt Instrument [Line Items]
Facility amount	$ 680,000,000
Oportun Financial Corporation
Debt Instrument [Line Items]
Facility amount			$ 75,000,000
Acquisition and Corporate Financing Debt
Debt Instrument [Line Items]
Original Balance	266,000,000
Balance	230,382,000	$ 258,746,000
Acquisition and Corporate Financing Debt | Oportun Financial Corporation
Debt Instrument [Line Items]
Original Balance	$ 150,000,000
Interest Rate, basis spread (as a percent)	12%
Balance	$ 192,049,000	204,100,000
Acquisition and Corporate Financing Debt | Oportun Financial Corporation | Minimum
Debt Instrument [Line Items]
Interest Rate, basis for effective rate (as a percent)	0%
Acquisition and Corporate Financing Debt | Oportun RF, LLC
Debt Instrument [Line Items]
Original Balance	$ 116,000,000
Interest Rate, basis spread (as a percent)	11%
Balance	$ 38,333,000	$ 54,646,000
Acquisition and Corporate Financing Debt | Oportun RF, LLC | Minimum
Debt Instrument [Line Items]
Interest Rate, basis for effective rate (as a percent)	0%

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accounts payable	$ 9,872	$ 5,288
Accrued compensation	10,670	15,359
Accrued expenses	20,521	24,791
Accrued interest	10,117	8,415
Amount due to whole loan buyer	5,795	4,169
Current tax liabilities	7,472	7,139
Other	3,265	3,777
Total other liabilities	$ 67,712	$ 68,938

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	May 05, 2023	Mar. 27, 2023	Mar. 10, 2023
Debt Instrument [Line Items]
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares issued (in shares)	35,994,744	34,741,076
Common stock, shares outstanding (in shares)	35,722,721	34,469,053
Treasury stock, shares (in shares)	272,023	272,023
Incremental Tranche A-1 Loans
Debt Instrument [Line Items]
Warrants issued (in shares)						1,980,242
Warrants issued, exercise price (in USD per share)						$ 0.01
Incremental Tranche A-2 Loans
Debt Instrument [Line Items]
Warrants issued (in shares)					116,485
Warrants issued, exercise price (in USD per share)					$ 0.01
Incremental Tranche B Loans
Debt Instrument [Line Items]
Warrants issued (in shares)				1,048,363
Warrants issued, exercise price (in USD per share)				$ 0.01
Incremental Tranche C Loans
Debt Instrument [Line Items]
Warrants issued (in shares)			1,048,363
Warrants issued, exercise price (in USD per share)			$ 0.01

Equity Compensation and Other_3

Equity Compensation and Other Benefits - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 2,942	$ 4,469	$ 6,924	$ 9,347
Capitalized compensation expense	200	300	500	700
Technology and facilities
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	769	1,159	1,928	2,208
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	29	10	53	43
Personnel
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 2,144	$ 3,300	$ 4,943	$ 7,096

Equity Compensation and Other_4

Equity Compensation and Other Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Income tax benefit related to stock based compensation expense			$ 2	$ 2.6
Share-based compensation	$ 0.2	$ 0.3	1.7	$ 2.7
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation cost, period for recognition	1.5		$ 1.5		$ 2.6
Unrecognized compensation cost, period for recognition			1 year 8 months 12 days		1 year 10 months 24 days
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation cost, period for recognition	$ 21		$ 21		$ 24.8
Unrecognized compensation cost, period for recognition			2 years 2 months 12 days		2 years 1 month 6 days

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income
Interest on loans	$ 228,242	$ 236,028	$ 453,925	$ 468,228
Fees on loans	3,131	4,435	8,038	9,854
Total interest income	231,373	240,463	461,963	478,082
Non-interest income
Servicing fees	3,463	3,544	6,872	7,224
Subscription revenue	5,437	6,301	11,956	13,179
Interest on member accounts	9,029	6,201	13,696	11,429
Gain on loan sales and other	1,094	10,054	6,391	16,161
Total non-interest income	$ 19,023	$ 26,100	$ 38,915	$ 47,993

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (18,124)	$ (2,572)	$ (22,160)	$ (42,015)
Effective tax rate	36.90%	14.70%	27.80%	26.40%
Change in income tax	$ (15,600)		$ 19,900
Change in income tax (as a percent)	605%		(47.00%)
Expected reduction in unrecognized tax benefits in the next twelve months	$ 3,400		$ 3,400

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Loans Receivable and Asset-Backed Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, unpaid principal balance	$ 2,656,551	$ 2,935,487
Loans receivable, fair value	2,714,410	2,962,352
Credit cards receivable held for sale, unpaid principal balance	89,713	0
Credit cards receivable held for sale, fair value	55,720	0
Asset-backed notes, unpaid principal balance	1,648,456	1,874,406
Asset-backed notes, fair value	1,583,088	1,780,005
Personal Loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, unpaid principal balance	2,656,551	2,824,342
Loans receivable, fair value	2,714,410	2,853,186
Credit Card
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, unpaid principal balance	0	111,145
Loans receivable, fair value	$ 0	$ 109,166

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Quantitative Information About Significant Unobservable Inputs (Details) - Level 3	Jun. 30, 2024	Dec. 31, 2023
Minimum | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.0098	0.0109
Minimum | Remaining cumulative prepayments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0	0.0001
Minimum | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.37	0.36
Minimum | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.1778	0.1700
Maximum | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.3381	0.3038
Maximum | Remaining cumulative prepayments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.0271	0.0389
Maximum | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	1.97	2
Maximum | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.1778	0.1700
Weighted Average | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.0990	0.1056
Weighted Average | Remaining cumulative prepayments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.0061	0.0092
Weighted Average | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	1.64	1.64
Weighted Average | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.1778	0.1700
Personal Loans | Minimum | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.0751	0.0687
Personal Loans | Minimum | Remaining cumulative prepayments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0	0
Personal Loans | Minimum | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.07	0.18
Personal Loans | Minimum | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.0866	0.1010
Personal Loans | Maximum | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.4947	0.5100
Personal Loans | Maximum | Remaining cumulative prepayments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.2562	0.2817
Personal Loans | Maximum | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	1.33	1.37
Personal Loans | Maximum | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.0866	0.1010
Personal Loans | Weighted Average | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.1157	0.1180
Personal Loans | Weighted Average | Remaining cumulative prepayments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.2087	0.2383
Personal Loans | Weighted Average | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	1.02	1.01
Personal Loans | Weighted Average | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio	0.0866	0.1010
Credit Card | Remaining cumulative charge-offs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio		0.2016
Credit Card | Principal payment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio		0.0706
Credit Card | Average life (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio		1
Credit Card | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs for unsecured personal loan portfolio		0.1020

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable at fair value	$ 2,714,410,000		$ 2,714,410,000		$ 2,962,352,000
Derivative asset	11,432,000		11,432,000		9,307,000
Derivative, underlying cash flows	14,200,000		14,200,000		12,200,000
Fair value of loans 90 days or more past due	4,700,000		4,700,000		5,200,000
Aggregate unpaid principal balance of loans 90 days or more past due	34,200,000		34,200,000		41,500,000
Transfers into level 3	0	$ 0	0	$ 0	0
Transfers out of level 3	0	$ 0	0	$ 0	$ 0
Unsecured Personal Loans Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable at fair value	2,578,900,000		2,578,900,000
Secured Personal Loans Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable at fair value	$ 135,500,000		$ 135,500,000

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Schedule of Reconciliation of Loans Receivable at Fair Value Using Significant Unobservable Inputs (Details) - Loans receivable at fair value - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance – beginning of period	$ 2,841,525	$ 3,044,478	$ 2,962,352	$ 3,175,449
Principal disbursements	678,040	723,751	1,262,202	1,397,686
Principal and interest payments from members	(591,964)	(594,856)	(1,187,997)	(1,216,827)
Other loan sales	(19,234)	(56,378)	(54,091)	(94,588)
Gross charge-offs	(101,545)	(115,200)	(204,582)	(222,606)
Credit card receivables reclassified as held for sale	(55,720)	0	(55,720)	0
Net increase (decrease) in fair value	(36,692)	14,186	(7,754)	(23,133)
Balance – end of period	$ 2,714,410	$ 3,015,981	$ 2,714,410	$ 3,015,981

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Schedule of Financial Instruments at Amortized Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Level 1
Assets
Cash and cash equivalents	$ 72,871	$ 91,187
Restricted cash	163,765	114,829
Loans held for sale (Note 5)	0
Liabilities
Accounts payable	9,872	5,288
Secured financing (Note 8)	0	0
Asset-backed borrowings at amortized cost (Note 8)	0	0
Acquisition and corporate financing (Note 8)	0	0
Level 2
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Loans held for sale (Note 5)	0
Liabilities
Accounts payable	0	0
Secured financing (Note 8)	156,617	285,231
Asset-backed borrowings at amortized cost (Note 8)	352,046	0
Acquisition and corporate financing (Note 8)	247,890	286,865
Level 3
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Loans held for sale (Note 5)	520
Liabilities
Accounts payable	0	0
Secured financing (Note 8)	0	0
Asset-backed borrowings at amortized cost (Note 8)	488,613	580,101
Acquisition and corporate financing (Note 8)	0	0
Carrying value
Assets
Cash and cash equivalents	72,871	91,187
Restricted cash	163,765	114,829
Loans held for sale (Note 5)	502
Liabilities
Accounts payable	9,872	5,288
Secured financing (Note 8)	156,696	290,949
Asset-backed borrowings at amortized cost (Note 8)	836,659	580,101
Acquisition and corporate financing (Note 8)	251,392	285,682
Estimated fair value
Assets
Cash and cash equivalents	72,871	91,187
Restricted cash	163,765	114,829
Loans held for sale (Note 5)	520
Liabilities
Accounts payable	9,872	5,288
Secured financing (Note 8)	156,617	285,231
Asset-backed borrowings at amortized cost (Note 8)	840,659	580,101
Acquisition and corporate financing (Note 8)	$ 247,890	$ 286,865

Leases, Commitments and Conti_3

Leases, Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Oct. 31, 2023
Restructuring Cost and Reserve [Line Items]
Remaining lease term (less than)	6 years		6 years
Rental expenses under operating leases	$ 3,300	$ 4,700	$ 7,100	$ 9,100
Unfunded loan and credit card commitments	28,500		28,500		$ 32,900
Minimum
Restructuring Cost and Reserve [Line Items]
Estimate of possible loss						$ 0
Maximum
Restructuring Cost and Reserve [Line Items]
Estimate of possible loss						3,800
Underpayment of VAT of Mexican subsidiary
Restructuring Cost and Reserve [Line Items]
Loss contingency accrual	0		0
Value-added tax
Restructuring Cost and Reserve [Line Items]
Estimate of possible loss						1,200
Inflationary adjustments, fines and penalties
Restructuring Cost and Reserve [Line Items]
Estimate of possible loss						$ 2,600
Information Technology and Communication Services
Restructuring Cost and Reserve [Line Items]
Purchase commitment, remainder of 2024	20,600		20,600
Purchase commitment, 2025	29,400		29,400
Purchase commitment, 2026	14,500		14,500
Purchase commitment, 2027	1,200		1,200
Purchase commitment, 2028	$ 0		0
San Carlos, California
Restructuring Cost and Reserve [Line Items]
Impairment of right-of-use asset			$ 6,200

Leases, Commitments and Conti_4

Leases, Commitments and Contingencies - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lease expense
Remaining six months	$ 6,212
Year one	11,159	$ 12,786
Year two	5,080	10,851
Year three	1,865	4,700
Year four	567	1,661
Year five	133	435
Year six		40
Thereafter	0
Thereafter		0
Total lease payments	25,016	30,473
Imputed interest	(1,881)	(2,097)
Total leases	23,135	28,376
Sublease income
Remaining six months	(241)
Year one	(587)
Year two	(605)
Year three	(153)
Thereafter	0
Total lease payments	(1,586)
Imputed interest	185
Total sublease income	(1,401)
Net lease liabilities	$ 21,734	$ 28,376
Weighted average remaining lease term	2 years 4 months 24 days	2 years 8 months 12 days
Weighted average discount rate	4.81%	4.72%

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Mar. 10, 2023 USD ($) tranche $ / shares shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Apr. 26, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 16, 2023 USD ($)	Sep. 14, 2022 USD ($)
Related Party Transaction [Line Items]
Interest expense		$ 54,244	$ 41,448	$ 108,709	$ 80,445
Interest income		231,373	240,463	461,963	478,082
Acquisition and corporate financing		230,382		230,382			$ 258,746
Asset-backed borrowings at amortized cost		$ 836,893		$ 836,893			581,468
Beneficial Owner
Related Party Transaction [Line Items]
Warrants issued (in shares) | shares	4,193,453
Warrants issued, exercise price (in USD per share) | $ / shares	$ 0.01
Ownership percentage in stocks (greater than)		10%		10%
Acquisition and corporate financing		$ 192,000		$ 192,000			204,100
Loans receivable at fair value		227,800		227,800			200,800
Asset-backed borrowings at amortized cost		229,800		229,800			$ 201,800
Beneficial Owner | Personal Loans
Related Party Transaction [Line Items]
Loan origination commitment, next twelve months, maximum amount								$ 300,000
Loan origination commitment, maximum amount						$ 370,900
Financing receivable, transfers		70,200		70,600
Interest income		14,700	100	19,500	100
Beneficial Owner | New Corporate Financing Facility
Related Party Transaction [Line Items]
Proceeds from issuance of debt	$ 75,000
Number of tranches | tranche	4
Beneficial Owner | Corporate Financing Facility
Related Party Transaction [Line Items]
Interest expense		11,000	9,000	22,500	15,300
Beneficial Owner | Secured Borrowing Agreement
Related Party Transaction [Line Items]
Interest expense		$ 7,200	$ 100	$ 13,600	$ 100
Beneficial Owner | Term Loan | Senior Secured Term Loans
Related Party Transaction [Line Items]
Original amount									$ 150,000